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Formal Consolidation |  2006 RevEd
Authorisation of withdrawals
18.—(1)  Where a withdrawal from the Fund has been authorised in favour of any person under section 15 of the Act, the Board shall —
(a)issue to that person or to any other person duly authorised as required by rule 19(2) a warrant for the amount;
(b)on the written instruction of that person, credit the amount authorised to be withdrawn to his bank account; or
(c)open a savings account in the name of that person with a bank and credit the amount authorised to be withdrawn to that account.
(2)  Payment may also be made by the Board in such other manner as the Board shall see fit in any particular case or class of cases.
Informal Consolidation | Amended S 36/2015
Manner of payment of amount authorised to be withdrawn
18.—(1)  Unless otherwise provided in the Central Provident Fund (Minimum Sum Scheme) Regulations (Rg 16), the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3), the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2) or the Central Provident Fund (New Minimum Sum Scheme) Regulations (Rg 31), where a withdrawal from the Fund has been authorised in favour of any person (referred to in this rule as the relevant person) under section 15 of the Act, the Board shall pay the amount authorised to be withdrawn —
(a)in any case where the relevant person has authorised any other person (by a duly executed power of attorney or by such other method as the Board may approve) to receive that amount on behalf of the relevant person —
(i)into that other person’s account with a bank, if the relevant person has applied, and the Board has approved the relevant person’s application, for the amount to be paid into that bank account; or
(ii)where the relevant person has not made an application under sub-paragraph (i), to that other person in such other manner as the Board thinks fit; or
(b)in any other case —
(i)into the relevant person’s account with a bank, if the relevant person has applied, and the Board has approved the relevant person’s application, for the amount to be paid into that bank account; or
(ii)where the relevant person has not made an application under sub-paragraph (i), to the relevant person in such other manner as the Board thinks fit.
(2)  Where the relevant person has authorised any other person in accordance with paragraph (1)(a) to receive the amount referred to in paragraph (1), and the Board has paid that amount to that other person in accordance with paragraph (1)(a), the receipt by that other person of that amount shall be treated as the receipt by the relevant person of that amount.
[S 36/2015 wef 31/01/2015]